• Schlumberger cuts more jobs, fires another 8,000, says the worst is over

    Schlumberger cuts more jobs, fires another 8,000, says the worst is over

    Schlumberger reported an unexpected loss and cut more jobs as cheap crude has pushed a recovery in the oilfield services market out further than expected.

    After firing 8,000 in the first quarter, Schlumberger just laid off another 8,000 workers, with Paal Kibsgaard, chief executive officer, saying the worst may be over.

    Analysts argue that the number may have been more, because while Schlumberger reported a headcount of 113,000 people at the beginning of this week, in the earnings released on Thursday, it […]